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If everyone is going to be full-time co-founders then each one getting 25% of crypto/equity compensation (i.e. "sweet equity"). If some of the co-founders are
by nivertech 4y ago
If everyone is going to be full-time co-founders then each one getting 25% of crypto/equity compensation (i.e. "sweet equity").
If some of the co-founders are bringing an initial investment they should structure it as either a loan or a SAFE/SAFT (which may later convert into additional equity/tokens for them).
Are they going to get the same salary as you, or no salary at all?
In case they're not getting a salary you can take this into a/c and dial down your sweet equity to 10-15%. If they're all getting market salary, you need to up your sweet equity to 30-40%.
Last thing - unlike normal startups which are playing long-term game, Web3 co-s are short-term thingies, so it's better to get paid in crypto itself rather than in equity.
> My main issue with this project is that I feel like it will rely a lot on me and web3 people who know how to code in solidity are rare.
Coding in Solidity will be an important, but overall a very small part of your job as a CTO.
> ... and web3 people who know how to code in solidity are rare.
I wouldn't say that, people who can write secure or formally-verified smart contracts are rare, but there are lots of Solidity coders, the whole point of Solidity was to reduce the barrier to entry for smart contract developement.
- helloAnanas 4y agoThanks for this quick answer. True that I will not do Solidity all the time, but in the beginning, yes. I just fear the fact that it will be hard to find good Solidity programmer, as we will have a certain need for smart contract development at a certain point. The others will not be paid for the moment (I will at 50% market). But they are all currently employed and not full time at all. They will be paid and go fulltime when we raise. It's a good question though.